Azimut drills 60.8 metres of 1.44 g/t gold at Elmer property, Quebec

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Azimut Exploration Inc. [AZM-PTSXV; AZMTF-OTC] reported new high-grade gold intervals from the Patwon zone on the company’s 100%-owned Elmer property in the James Bay region of Quebec. Drilling completed to date has confirmed an open-ended robust core zone at Patwon.

The final assay results have now been received for 15 holes (5,431.6 m) at Patwon from a program completed earlier this year. Assay results are still pending for another 32 drill holes that tested 10 targets in the 8 km by 3 km priority exploration corridor around the Patwon discovery.

A new 20,000-metre drilling program is under way to continue expanding the Patwon zone and prepare for a maiden NI 43-101-compliant resource estimate. This program will also continue testing highly prospective targets nearby. Azimut considers it is probable that other significant mineralized zones will be found along strike from Patwon.

Highlights

Hole ELM21-102 returned 1.44 g/t gold over 60.8 metres (228.5-289.3 m), including 18.1 g/t gold over 2.75 metres and 2.55 g/t gold over 6.9 metres. Hole ELM21-097 returned 1.10 g/t gold over 57.9 metres (295.6-353.5 m), including 2.52 g/t gold over 8.0 metres; 4.14 g/t gold over 3.75 metres.

Hole ELM21-094 returned 9.92 g/t gold over 2.3 metres (229.7-232.0 m); 2.17 g/t gold over 19.0 metres (324.5-343.5 m), including 6.07 g/t gold over 2.1 metres; 12.0 g/t gold over 1.5 metres; 12.2 g/t gold over 1.25 metres (358.35-359.6 m).

Hole ELM21-093 returned 8.19 g/t gold over 2.4 metres (150.4-152.8 m); 11.58 g/t gold over 2.45 metres (162.35-164.8 m).

These results further delineate the robust mineralized body, including the central core that tends to widen to the west with increasing depth. The grade times thickness factor (example: 5.0 g/t gold multiplied by 10 metres is equal to 50 GT) is commonly used in the mining industry to rank and compare mineralized intercepts.

Based on the results disclosed to date and using true estimated widths, the core zone is defined thus far by 25 drill hole intercepts ranging from 50 GT to 412 GT, including 11 intercepts above 100 GT. These 25 drill hole intercepts display an average true width of 45 metres, with an average grade of 2.86 g/t gold.

The central core extends from the surface to a minimum depth of 450 metres, where the mineralized system remains open. It is spatially correlated with a vertically dipping felsic intrusion, indicating an excellent possibility for a kilometre-scale vertical extent of the mineralized body. The Patwon zone is currently defined over a strike length of 520 metres.

The Elmer property comprises 515 claims covering 271.3 km2 over a 35-km strike length. The property is 285 km north of the town of Matagami, 60 km east of the village of Eastmain and 5 km west of the paved James Bay Road, a major all-season highway. The region benefits from quality infrastructure, including significant road access, a hydroelectric power grid and airports.


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